IMPS Transaction Limit: RBI increases IMPS limit to Rs 5 lakh from Rs 2 lakh earlier

IMPS Transaction Limit: RBI increases IMPS limit to Rs 5 lakh from Rs 2 lakh earlier


The Reserve Bank of India has increased the limit of IMPS transaction to Rs 5 lakh from Rs 2 lakh earlier for convenience of the consumers.

RBI Governor Shaktikanta Das announced that the increased limit for the digital payment mode used for making immediate transfer of money will make it convenient for consumers to transfer higher sums.

The RBI has been taking steps to make it easier for consumers to make digital transfers. It had made the RTGS transfers, used for higher value transaction, 24×7.

The RBI had also made the National Automated Clearing House (NACH) available on all days effective August 1, 2021.

NACH, a bulk payment system, is used for one-to-many credit transfers such as payment of dividend, interest, salary and pension.

The RBI kept the key interest rates unchanged in its monetary policy announcement today and held the growth projections intact at 9.5%.



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